Brief by Shorts91 Newsdesk / 09:16am on 16 Dec 2023,Saturday Business
Indian billionaire Gautam Adani's conglomerate has purchased a 50.5% share in news agency IANS India Pvt Ltd, marking the group's latest expansion into media. Adani Enterprises made the acquisition through its subsidiary AMG Media Networks Ltd, which operates the group's media properties including broadcaster NDTV. The deal's financial details remain undisclosed. IANS reported revenues of Rs 11.86 crore last fiscal year. AMNL will now appoint IANS's board and directors, taking operational and managerial control. The purchase grows Adani's growing media portfolio after last year's forays into digital outlet Quintillion and acquiring most NDTV shares.
